RMS Chart, page-1506

Hey 101, I saw a comment on the BLG thread questioning some of the assumptions used re the underground widths and dilution. I know nothing about the technical stuff so left it alone. But you seem to be voicing similar concerns. Also one of the posters pointed out that it is all underground, no open pit. As I said given the likely acquisition price and pre-production capex and timeframe I think there is too much risk for Ramelius in its current size.

Speaking of Dacian, I reckon once it has acquired NTM it will look even more attractive to Ramelius: new plant, currently operating, open pit at Mt Morgans (shortish LOM), significantly bolstered by the "exceptional" grades of the near surface ore at NTM's The Hub. But I suspect DCN's shareholders will give strong support to Leigh Junk who really has turned Dacian around. So it might not be a push over for Ramelius either.

As for Penny West: anything of substance would be a boost to the whole region. Next door neighbour Aldoro has given up on the gold and gone chasing nickel, Rox has made a mess of things up in recent times up at its prospective Youanmi, and Venus Metals is aligning with Jupiter and Mars. I'm a bit surprised that they will be taking pretty much 12 months of development before they access any underground ore at Penny and the near surface stuff at Magneta looks like it will only take a few months to mine.